The dollar is higher today, building on momentum from gains late last week. The U.S. Dollar Index is +1.52% since last Thursday’s low at 100.617 and +0.81% today. The dollar is higher vs. the G10 and full list of majors, notable gains: +0.94% vs. CHF, +0.82% vs. EUR & GBP, +0.69% vs. JPY, +0.48% vs. CAD, +0.44% vs. AUD, and +0.40% vs. MXN. Reports of Iran sending a warship to the Red Sea has shifted markets to a ‘risk-off’ stance, driving flows to the greenback.
U.S. Treasury yields are higher today in all tenors, led by the 3-year with a gain of 0.09% at 4.1009% (closed Friday at 4.0102%).
The majority of global equity index futures are negative today including U.S. futures which are signaling a sharp drop at the open: Nasdaq 100 mini -0.94%, and S&P 500 mini -0.73%.
Oil prices are +1.56% at $72.80/barrel, down from $73.64/barrel earlier in today’s trading session.
Gold closed December at $2,062.59/oz., an all-time monthly and yearly record. Silver is rangebound between $18oz and $26oz long-term and $22oz-$25oz short-term.
This week’s primary economic reports are set for release on Friday, led by Nonfarm Payrolls and Unemployment for December. Friday we will also see Factory Orders and Durable Goods Orders. The FOMC’s Meeting Minutes (for the December 13th rate policy decision) will be released on Wednesday.
Canada will also release its Net Change in Employment and Unemployment Rate figures on Friday.
